Semler Scientific plans to raise $75 million through a private offering of convertible senior notes to increase its Bitcoin (BTC) holdings, following a $29 million unrealized gain. A Viable Strategy On January 23rd, Semler reported its fourth-quarter earnings, revealing an unrealized gain of $28.9 million through 2,321 BTC, now valued at $241 million. The company purchased 237 BTC on January 13th, increasing its total holdings. CEO Doug Murphy-Chutorian said the team is excited to continue executing its Bitcoin strategy. Semler initially bought Bitcoin in May, and its stock surged by 30% after the first purchase of 581 BTC. The funds will also reportedly support other corporate activities. A Mixed Bag The fourth-quarter revenue for Semler is projected between $12.1 million and $12.5 million, with operating income estimated at $3.4 million to $3.7 million. Despite a 1.55% drop in share price on January 23rd, Semler saw its stock rise 38% over the past year, though still below its October 2021 high. Other companies, including MicroStrategy, have also adopted Bitcoin as part of their treasury strategies. MicroStrategy now holds 461,000 BTC, valued at $48 billion, the largest Bitcoin holding among public firms. Semler ranks 13th.
